PICC details non-motor insurance growth strategy at investor day

PICC's 2025 Investor Open Day, held on November 7, 2025, focused on "the practice and outlook of high-quality development in non-motor insurance." The company detailed its strategic shift towards compliant and quality-driven growth, aiming to overcome past issues such as excessive costs and insufficient premium adequacy in the non-motor sector. Key initiatives, effective from November 1, 2025, include optimizing assessment mechanisms, standardizing product development, regulating premium income, and enhancing underwriting and claims services.

The open day also highlighted PICC's strong growth potential in non-motor insurance, aligning with China's "Fifteenth Five-Year Plan." The company projects significant market opportunities across various segments by the end of this period, including commercial non-motor insurance with direct outward investment net flow exceeding $220 bn, individual non-motor insurance with over 450 m urban and rural housing units, and agricultural insurance with primary industry added value reaching over CNY10.5 trillion.

PICC outlined its six core capabilities for non-motor insurance, including precise and rapid quotation, extensive channel development, rigorous underwriting, professional claims services, comprehensive reinsurance support, and advanced risk reduction services. Furthermore, the company detailed its "Overseas Business Operating Model," aiming for profitable underwriting and rapid premium growth by focusing on "serving Chinese products" and "serving Chinese enterprises," supported by a four-pillar framework of centralized risk control, insurance solutions, sales collaboration, and a global service network.